Here’s the latest on the $21 million Randy Parton theater, built by the city of Roanoke Rapids with tax increment financing money. Turns out that at least half of Parton’s $1.5 million fee for his involvement in the project will come directly from TIF money.
Recall that TIF is supposed to pay for capital improvements that absolutely, positively have a net positive revenue impact for a city or county. That an “artist fee” for a C-list “star” — and that may be insulting C-listers everywhere — was somehow twisted by state and local authorities to fit the TIF mold shows that TIF money can — and will — be spent on just about anything.
Besides, the TIF project ignored a feasibility study which found there was no reason to build the theater without the 1,000-acre Carolina Crossroads entertainment-plex developers had promised. Today there is no Carolina Crossroads complex despite an additional $5 million in state money spent towards that end.
And today there is practically no control over tax increment financing abuse in North Carolina.
